Wedge Pizza Company will open in a Church Street-facing unit of the Miller Arcade on Saturday, June 22.
The restaurant is the brainchild of the team behind the Baluga Bar, which is situated in the unit next door.
The new pizza place will be open from 11am till 10pm Monday to Friday, as well as Sunday.
But according to the restaurant's Facebook page, hungry revellers will be able to grab a late-night slice on a Friday and Saturday until 4am.
The new restaurant will also offer takeaway and a delivery service.
It means Mr Lam - the popular Chinese restaurant which formerly occupied the Miller Arcade unit - will relocate to Preston Guild Hall.
Mr Lam will reopen at the former site of Vittorias Italian restaurant in the ground floor of the Guild Hall.
Signs have recently appeared on the windows of the vacant unit announcing the imminent reopening, but an official date has not been confirmed.